Trump's Tariff Blitz on Drugs, Metals

0:00It's April 3rd. I'm Cory with the story, and this is Global News Today World News powered by AI. President Trump just signed an executive order that could hit some patented drugs with tariffs up to 100 percent if companies don't strike. Deals soon. Farm signing most favorite nation pricing and building US factories for drugs and ingredients dodged it entirely at 0 percent. Those building without a deal started 20 percent, then climbed to 100 percent over four years. Companies have breathing room to negotiate, 120 days for the big players, 180 for the rest. The administration already locked in 17 pricing packs with 13 fully signed. Meanwhile, Trump updated tariffs on imported steel, aluminum, and copper to 50 percent based on full customs value, tweaking rates for products. With partial metal content, pharma leaders like FRMA CEO are pushing back hard, saying these taxes on innovative meds will drive up costs and scare off billions in US investments.

1:02They point out most foreign drugs come from solid allies, and America already leads in bio-farm-a-manufacturing. This move ramps up Trump's second term tariff blitz, using threats to snag lower prices from giants like Pfizer and Eli Lilly. Some countries cut special deals too. The EU, Japan, Korea, and Switzerland at 15 percent, UK at 10 percent heading to zero. It follows a Supreme Court's Smackdown on broader tariffs, so he's leaning on sectoral powers like Section 232 for cars, lumber, and more. Trump frames these levies as reclaiming stolen wealth, shrinking the trade deficit, and reviving factories at home. But with supply chains disrupted, businesses and families are stuck paying more amid the squeeze.